It's a fairly natural human response. The knowledge that we're in over our heads and that the Sheriff might come calling soon, often causes a kind of paralysis.
Fear, disbelief, denial and even severe deppression cause many homeowners that are in the position of potentially losing their homes to "freeze up" or at the very least procrastinate. As if, by denying our situation, we can stop the process.
Of course the opposite, is actually true. The longer you wait, the harder it becomes to resolve this issue.
Keep in mind, that the foreclosure procedure has been around and well established for a long time (more on this in a future posting). So, no matter how much you try to bury your head in the sand, the process goes on!
So, it's critically important that you start negotiations with your mortgage provider as soon as possible!
Phone them. Make an appointment to see them & ask them if there's some way you can come to an arrangement with them. Make sure you confirm all conversations in wring afterwards or even beforehand.
Don't wait please!
Do something now. Most Banks & Mortgage Companies have special departments to deal with this issue. Be open & honest with them and show a willingness to do everything in your power to keep your home.
How, you ask?
Show them copies of all the job applications you've done. What about that motorcycle of yours? Yes, we know she's your baby, but she's not very comfortable as a home, is she now? So, sell her and use the proceeds to make a payment/ part-payment on your bond.
Think "outside the box" to find alternate ways to cut costs or earn additional income...
You can do this! But start right now!!
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